The album I actually owned was a reissue -- unauthorized, but I didn't know that until tonight -- of the 1959 recording called "The Best of Joan Baez." It contained all but four cuts from the 1959 "Harvard Square" LP, including at least approximately the version of "Lowlands" that Gibb Sahib located on YouTube. It did not contain the other version, although I suppose the 1959 original issue could have had a different version (no source online mentions such a thing, and I'd certainly have my doubts). Where did you find the information that the version you posted was the one on the album?

You can find information on both the original album and the reissue here.

The reissue had a pen and ink line drawing of Joan Baez on the front. I found a picture of it online earlier today from my other computer at work, but can't unearth it now.

C